Company registration number 06973756 (England and Wales)
OCTO MANAGEMENT COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 DECEMBER 2022
PAGES FOR FILING WITH REGISTRAR
OCTO MANAGEMENT COMPANY LIMITED
COMPANY INFORMATION
Director
S E Elias
Company number
06973756
Registered office
2nd Floor
1 Ashley Road
ALTRINCHAM
WA14 2DT
Accountants
Lopian Gross Barnett & Co
1st Floor, Cloister House
Riverside
New Bailey Street
Manchester
M3 5FS
OCTO MANAGEMENT COMPANY LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
OCTO MANAGEMENT COMPANY LIMITED
BALANCE SHEET
AS AT
28 DECEMBER 2022
28 December 2022
- 1 -
2022
2021
Notes
£
£
£
£
Current assets
Debtors
2
42,619
41,216
Cash at bank and in hand
18,234
13,253
60,853
54,469
Creditors: amounts falling due within one year
3
(52,871)
(47,255)
Net current assets
7,982
7,214
Capital and reserves
Sinking Fund
7,982
7,214
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 28 December 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 19 March 2024
S E Elias
Director
Company Registration No. 06973756
OCTO MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 DECEMBER 2022
- 2 -
1
Accounting policies
Company information
Octo Management Company Limited is a private company limited by shares incorporated in England and Wales. The registered office is 2nd Floor, 1 Ashley Road, ALTRINCHAM, WA14 2DT.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value. The principal accounting policies adopted are set out below.
1.2
Turnover
Income represents service charge income receivable from property unit holders.
Service income is recognised at the time interim service charges are due from unit holders and on final annual adjustment at the end of each service charge period.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.3
Taxation
No taxation has been provided as the company is treated as trading mutually, given that any surpluses are not for distribution.
2
Debtors
2022
2021
Amounts falling due within one year:
£
£
Service charge income invoiced and recoverable
34,075
33,417
Service charge expenditure recoverable
8,544
7,799
42,619
41,216
OCTO MANAGEMENT COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 DECEMBER 2022
- 3 -
3
Creditors: amounts falling due within one year
2022
2021
£
£
Service charge expenses owed
1,291
1,770
Landlord loan
19,841
17,883
Service charge income received in advance
10,675
10,680
Accrued service charge expenses
21,064
16,922
52,871
47,255
4
Controlling party
Control of the company is vested in its members.